Ethereum co-founder Vitalik Buterin has sold all his MKR tokens, netting about $581,000 in ETH from the transaction. The sale has led to speculations that he sold in reaction to the MakerDAO founder’s recent praise of Solana’s blockchain.

In a recent post, MakerDAO founder Rune Christensen said Solana should be considered for his protocol’s new blockchain, NewChain, because of its technical quality and optimization.

Buterin Dumps MKR Tokens

Soon after the blog post, Buterin sold the entire 500 MKR tokens in his holdings via CoW protocol. According to the Arkham Intelligence dashboard, the sales fetched him 353 ETH.

Vitalik Buterin MKR Sales.
Vitalik Buterin MKR Sales. Source: Arkham Intelligence

The sale is the first time Buterin had sold MKR tokens since 2021, when he donated 100 MKR tokens to the India Covid relief fund.

He acquired 1,071 MKR tokens in April 2018, when it was trading at $905. With the token now trading at $1,127, Buterin made a handsome profit on his holdings.

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Author: Oluwapelumi Adejumo

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